Businesses need support from vietnamese representative offices abroad

Deputy Minister of Foreign Affairs Do Hung Viet speaking at the seminar. Photo: H.Dịu

Support in the "race" within the international market

At a seminar between heads of Vietnamese representative offices abroad for the 2024-2027 term and associations and businesses, co-organized by the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Foreign Affairs on November 12, 2024, businesses requested more information on international markets and partners.

According to Mr. Hoang Quang Phong, VCCI Vice President, the rapidly changing and unpredictable global situation necessitates Vietnamese representative offices acting as advisors and supporters for Vietnamese businesses in the "race" within the international market.

Mr. Truong Van Cam, Vice President and General Secretary of the Vietnam Textile and Apparel Association (VITAS), specifically noted that textile and garment export turnover hasn't yet reached its full potential.

To achieve growth, businesses must understand consumer preferences, market capacity, and market culture, as each culture has different demands for textile and garment products.

In this context, VITAS requested support from Vietnamese representative offices abroad regarding market information and legal regulations in different countries.

Mr. Hoang Quang Phong, VCCI Vice President, speaking at the seminar.

Similarly, Mr. Nguyen Van, Vice President of the Hanoi Supporting Industry Business Association (HANSIBA), requested that ambassadors and heads of representative offices continue to support and promote the search for and connection with partners interested in investment cooperation, production, technology transfer, and investment capital funding with domestic industrial and supporting industry businesses.

He also requested prompt administrative procedures, such as visas, for partner delegations, businesses, and entrepreneurs visiting Vietnam.

Mr. Van further requested that these offices coordinate with domestic ministries and agencies like the General Department of Customs, the Ministry of Industry and Trade, and the Ministry of Science and Technology to expedite customs clearance for supporting industry businesses importing machinery and manufacturing equipment into Vietnam.

Responding to numerous fluctuations

Acknowledging the input from businesses and associations, the heads of Vietnamese representative offices abroad highlighted several considerations for businesses given the changing international market.

Ms. Nguyen Le Thanh, Ambassador Extraordinary and Plenipotentiary of Vietnam to Denmark and concurrently to Ireland, noted that Denmark, with its temperate climate, has a demand for tropical agricultural products, which is Vietnam's strength.

Customs data shows that in the first eight months of 2024, Vietnam had a trade surplus with Denmark in textiles, apparel, seafood, and wood products.

However, to increase the value of Vietnamese exports to Denmark, Ms. Thanh suggested that businesses focus on producing and exporting products related to sustainable development. Danish consumers are increasingly focused on environmentally friendly and healthy products, reducing meat consumption while increasing their intake of seafood and nutrient-rich foods.

Representatives of businesses, associations, and Vietnamese representative offices abroad exchanged ideas to facilitate trade. Photo: H.Dịu

Ms. Tran Thi Thu Thin, Ambassador Extraordinary and Plenipotentiary of Vietnam to Mozambique and concurrently to Madagascar, Seychelles, Mauritius, and Comoros, stated that the African market in general, and the Halal market in particular, hold significant growth potential.

However, the Halal market has numerous specific and stringent criteria and standards, extending beyond alcohol and pork-free products to encompass ethical values and adherence to sustainable development practices in production.

Ms. Thin recommended that businesses thoroughly research Halal certification regulations, establish compliant processes, and contact reputable certification centers to facilitate exports.

Furthermore, regarding the recent election of Donald Trump as US President, Deputy Minister of Foreign Affairs Do Hung Viet, Ambassador Extraordinary and Plenipotentiary – Permanent Representative of Vietnam to the United Nations in New York, noted the anticipated changes in US domestic and foreign policies.

The Deputy Minister highlighted the possibility of increased US trade protectionism. Therefore, businesses need to prepare for potential higher tariffs or stricter regulations on origin and traceability.

Vietnamese businesses involved in transshipment and processing of goods for export should pay particular attention to origin and traceability issues and implement solutions to enhance competitiveness.

In addition to support from Vietnamese representative offices abroad, Deputy Minister of Foreign Affairs Pham Thanh Binh, Ambassador Extraordinary and Plenipotentiary of Vietnam to China and concurrently to the Federated States of Micronesia, encouraged businesses to assist overseas offices in identifying and connecting with partners, promoting trade, and sharing policy information to overcome challenges and obstacles.